<Anchor> This
is a friendly economic time. Today (17th) I will be with reporter Han Ji-yeon. This year, and then last year, young people continue to spend a lot of luxury goods. I think I hear these kinds of news constantly.
<Reporter>
Yes, it has emerged as a 'big hand' in the luxury market. The proportion of the 2030 MZ generation in this market is quite high. Although department store sales were affected by social distancing, luxury goods sales increased by nearly 50% last year.
It is not an exaggeration to say that luxury goods feed the department store, but more than half of them are in their 20s and 30s based on sales, so naturally, they do a lot of marketing. The exclusive lounge for 2030 VIPs debuted last year.
<Anchor>
Is that lounge on the screen right now, a reporter? It seems to have been decorated beautifully enough for the younger generation to like it.
<Reporter>
It was different from the VIP room in the past. Another Baekhwajeong is said to provide limousine service to 2030 VIPs. Previously, an event was held for 50 VVIPs in 2030 who spend more than 600 million won a year to shop in a hotel room.
<Anchor>
So, did you spend more than 600 million won to become a VVIP?
<Reporter>
That's right. I have to spend more than 600 million won, but I was a little surprised and asked the department store, "What kind of people are they?"When I asked about it, he said that there were hardly any chaebols.
When I say this, it seems as if all the young people have become rich, and you may feel uncomfortable with talking about other worlds, but the reality is that youth unemployment is serious. The youth unemployment rate in Korea is 9%, more than double the overall unemployment rate.
It is said that 'Young & Rich' has increased with real estate, coins, and stocks, but in terms of the total, it is a very small number. This means that the polarization of wealth is getting worse.
In addition, it is analyzed that luxury consumption is not only the demand for Young & Rich, but also the consumer group for retaliatory consumption due to Corona or for the satisfaction of life after giving up real estate altogether.
<Anchor>
Basically, as the asset market expands, it seems to be true that the overall spending power increases. In particular, the increasing spending power, especially among the young, seems to be regarded as a unique phenomenon. So, of course, the retail industry will work harder on marketing for them. Is there any discrimination?
<Reporter>
We are expanding our attack on select shops of famous overseas brands.
<Anchor>
Is it a little different from an editorial shop? with what was before?
<Reporter>
It's not just an editorial shop, it's selling products that have been carried over for about a year or two, but since they come directly from the store, the price can be drastically lowered with almost no intermediary distribution fees.
Such stores are called 'off-price stores', and the discount rate of such off-price stores is about 40-70%. It is about 10-20% cheaper than existing outlets.
It is about the price of an online overseas direct purchase. You can think of it this way. When I went to the interview in person, it was crowded with people.
At a glance, the 2030 ratio seems high. Normally, when traveling abroad, there are many cases where you buy a bag at an outlet, but because of Corona, you can't do that, so these off-price stores are becoming more popular.
Looking at the sales, it increased by more than 50% last year, which is higher than the growth rate of department store luxury goods. The industry can't miss this.
A total of 13 stores including 4 opened last year alone by one company. Other companies are also aggressively expanding.
<Anchor>
It seems to be true that the young people's demand for luxury goods, commonly referred to as expensive items, is increasing. The reason for this may be that they use and wear them, but if you resell them, you can make money these days. Isn't that why they do it more often?
<Reporter>
Yes, in the case of popular luxury goods or rather famous brands, if you sell them on the second-hand market, you pay more. So, after the brand name, it is sometimes called Sha-tech or Role-tech. There are also open runs in which people stand in line before the opening hours of department stores and then jump in.
Last Friday the 14th.
People do an 'open run' like that to buy branded golf shoes that cost about 170,000 won at a department store in Daegu. They run on escalators and even run backwards.
It is a dizzying situation that almost could lead to an accident.
Among them, there were sneaker enthusiasts, but people flocked to it as they expected to get at least three or four times more expensive if sold on the second-hand market.
The luxury used market is worth 7 trillion won, so recently, not only offline but also second-hand trading platforms are entering the luxury business a little deeper.
Because the more expensive the brokerage, the higher the commission.
A second-hand platform started testing a sales agency service two months ago.
Another platform launched a free luxury appraisal service this month.